Good news is not good enough for some investors
The way in which different regions respond to good news can tell us a lot about investor attitudes. The recent US payroll data are a good example of this. The US, China and the Anglosphere – including the UK – responded well; the Eurozone and Japan didn’t. It’s hard to reconcile this reaction with IMF forecasts that make the UK the centre of a global slowdown over the next 12 months.